Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

The Spanish Exchange Trades 116 New Warrants Issued By BBVA Banco De Financiación

Date 03/10/2005

The Spanish Exchange today began trading 116 new warrants issued by BBVA Banco de Financiación. The underlying assets for the warrants are domestic and foreign shares and indices as well as exchange rates.

As to the warrants on exchange rates, 20 were issued on this underlying asset, of which 10 correspond to the Euro / Dollar exchange rate, 5 to the Euro / Yen and another 5 to the Dollar / Mexican Peso.

The Spanish shares that will act as the underlying assets for 45 warrant are as follows: Abertis, BBVA, Endesa, Iberdrola, Inditex, Indra, Repsol, SCH and Telefónica.

Among the warrants issued on foreign shares, 38 have been issued on the following underlying assets: Alcatel, AXA, BNP Paribas, Deutsche Telekom, Ericsson, France Telecom, ING Nationale Nederlanden, Nokia and Philips As to the warrants issued on indices, 6 have been issued on the Ibex-35, 4 on the international Dax index, and 3 on the Dow Jones Industrial Average. Among the issues are call and put warrants, all of which work in the same way as American warrants. They are exercised automatically by the issuer at the expiry date.

With these new issues, the number of warrants on the market so far amounts to 1.138.